S&P revises Grupo KUO view to stable

S&P said it revised Grupo KUO SAB de CV’s outlook to stable from negative, citing an expected recovery in its operations.

“The stable outlook reflects our expectation that the company will increase its EBITDA during the next 12 months in line with the economic recovery that will support demand across its three business, coupled with the startup of the processing plant. These factors will cause debt to EBITDA to drop below 4x and FFO cash interest expense rise above 4x,” the agency said in a press release.

Concurrently, S&P affirmed Grupo KUO’s BB- and mxBBB+ ratings.

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